90-country named routing/account numbers plus RTP/FedNow cash-out is how stablecoins stop looking like “crypto rails” to the end user. Modern Treasury has spent six months wiring Beam, Paxos/Global Dollar Network, USDC on Polygon, and Solana Developer Platform into the same ledger, so the fight shifts from who can move USDC cheapest to who owns compliance + reconciliation when fiat and onchain balances merge. Bridge/Stripe and Circle win on distribution, but MT is going after the boring ops layer where platforms actually choose vendors.

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